Hope Bancorp (NASDAQ: HOPE) to acquire $2.5B SMBC MANUBANK commercial unit
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Hope Bancorp announced that its subsidiary Bank of Hope has agreed to acquire the Commercial Banking Unit of SMBC MANUBANK in an all-cash deal. The acquisition adds approximately $2.5 billion in loans and $2.7 billion in deposits based on December 31, 2025 balances, expanding its Los Angeles footprint and Asian-focused commercial banking platform. Hope expects the transaction to be over 20% accretive to earnings per share in 2027, with about 4.5% tangible book value dilution and an earn-back period of roughly two years. Pro forma tangible common equity ratio is estimated at 8.1%. The deal is unanimously approved by the boards and is expected to close in the second half of 2026, subject to customary regulatory approvals and conditions.
Positive
- Highly accretive acquisition: Hope Bancorp expects the SMBC MANUBANK Commercial Banking Unit deal to be over 20% accretive to earnings per share in 2027, with an estimated internal rate of return of about 23% and pro forma ROTCE of roughly 12%.
- Meaningful balance sheet and franchise expansion: The transaction adds approximately $2.5 billion in loans and $2.7 billion in deposits (about 17% growth in each versus standalone balances) and deepens Hope’s commercial banking presence in the greater Los Angeles metropolitan area.
Negative
- None.
Insights
All-cash bank acquisition adds scale, EPS accretion and modest TBV dilution.
Hope Bancorp is buying SMBC MANUBANK’s Commercial Banking Unit, adding about $2.5B in loans and $2.7B in deposits as of December 31, 2025. The portfolio is heavily commercial, with diversified industries, franchise finance, commercial real estate and SBA lending, plus specialty deposit verticals like trust and estate banking.
The company projects the deal to be over 20% accretive to EPS in 2027, with estimated tangible book value dilution of about 4.5% and an earn-back period of roughly two years. Pro forma capital remains solid, with an estimated TCE ratio of 8.1% and CET1 ratio of 10.2% after purchase accounting marks.
The transaction is expected to increase loans and deposits by roughly 17% each versus Hope’s standalone balances, and to improve return on tangible common equity to around 12% in 2027. Integration execution, cost synergies and retention of the CBU’s customers and staff will be key drivers of whether the projected accretion and internal rate of return of about 23% are realized.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Loans acquired: $2.5 billion loans
Deposits acquired: $2.7 billion deposits
2027 EPS accretion: Over 20% EPS accretion
+5 more
8 metrics
Loans acquired
$2.5 billion loans
CBU balances as of December 31, 2025
Deposits acquired
$2.7 billion deposits
CBU balances as of December 31, 2025
2027 EPS accretion
Over 20% EPS accretion
Expected impact on Hope Bancorp earnings per share in 2027
Tangible book value dilution
Approximately 4.5% TBV dilution
Estimated dilution at closing with about two-year earn-back
Pro forma TCE ratio
8.1% TCE ratio
Estimated pro forma tangible common equity ratio as of December 31, 2025
Pro forma CET1 ratio
10.2% CET-1 ratio
Estimated pro forma common equity Tier 1 ratio as of December 31, 2025
Pro forma ROTCE
Approximately 12% ROTCE
Estimated return on tangible common equity in 2027
Merger-related costs
$30 million after-tax
Estimated merger-related expenses incurred throughout year 1 post close
Key Terms
tangible book value, TCE ratio, Return on average tangible common equity, core deposit intangible, +2 more
6 terms
tangible book value financial
"Tangible book value dilution at closing is expected to be approximately 4.5% and earned back in approximately two years."
Tangible book value is the accounting measure of a company’s net worth after removing intangible items like goodwill, patents and trademarks, leaving only physical and financial assets minus liabilities. For investors it offers a clearer view of the company’s hard-asset backing per share—like estimating the cash you could get by selling the furniture, machinery and cash in a house—helping gauge downside risk and whether a stock may be cheaply valued.
TCE ratio financial
"TCE ratio is calculated by taking tangible book value, then dividing the difference by total assets after subtracting goodwill and core deposit intangible assets."
Return on average tangible common equity financial
"Return on average tangible common equity is calculated by dividing net income by average tangible common equity."
A profitability ratio that shows how much profit common shareholders earn from the bank’s tangible equity — the shareholder capital left after removing goodwill, intangible assets and preferred stock — averaged over a period. Investors use it like a yield on the company’s real, hard capital to judge how efficiently management turns those tangible resources into earnings and to compare returns across banks or over time.
core deposit intangible financial
"Tangible book value per common share is calculated by subtracting goodwill and core deposit intangible assets from total stockholders’ equity."
Core deposit intangible is an accounting asset that represents the value of customer deposits a bank gains, usually through an acquisition, because those deposits provide a stable, low-cost source of funding. Think of it like paying for a loyal customer list that will save the bank money over time; it is written down over several years and affects reported earnings and the apparent cost of acquiring new funds, so investors watch it to understand future profitability and capital impact.
Non-GAAP financial measures financial
"This communication includes information that does not conform to accounting principles generally accepted in the United States of America and are considered non-GAAP measures."
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Small Business Administration (SBA) loans financial
"The CBU is a full service commercial bank offering a broad range of banking services across business lines including Small Business Administration (“SBA”) loans."
Small Business Administration (SBA) loans are loans made by private lenders but backed or guaranteed by the U.S. Small Business Administration to help small companies access financing they might not get otherwise. For investors, SBA-backed loans matter because they reduce the risk that a small business will fail from lack of capital, make growth and cash flow more predictable, and can improve a borrower’s credit profile—similar to a trusted co-signer making a loan easier to obtain.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
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(Address of principal executives offices, including zip code)
(213 ) 639-1700
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| , | par value $0.001 per share | |||||||||||||
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On March 31, 2026, Hope Bancorp, Inc., (the “Company”) issued a press release announcing that its wholly-owned subsidiary, Bank of Hope, has entered into a definitive agreement under which Bank of Hope will acquire the Commercial Banking Unit of SMBC MANUBANK, a wholly owned subsidiary of SMBC Americas Holdings, Inc. and Sumitomo Mitsui Banking Corporation. A copy of the press release is furnished as Exhibit 99.1 hereto.
In addition, the Company has made available an investor presentation relating to the transaction. A copy of the investor presentation is furnished as Exhibit 99.2 hereto.
The information furnished pursuant to this Item 7.01, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | Press release, dated March 31, 2026 | |||||||
| 99.2 | Investor Presentation dated March 31, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HOPE BANCORP, INC. | |||||||||||
| Date: March 31, 2026 | By: | /s/ Kevin S. Kim | |||||||||
| Kevin S. Kim | |||||||||||
| Chairman, President and Chief Executive Officer | |||||||||||
News Release
Bank of Hope to Acquire the Commercial Banking Unit of SMBC
MANUBANK in Accretive, All-Cash Transaction
•Aligns with Hope’s Core Strategy to Enhance its Commercial Banking Capabilities
•Collaboration and Partnership Agreement with SMBC Positions Hope as a Premier Banking Partner to Middle Market Customers from Asia
•Provides Attractive Core Deposit Funding, Specialized Deposit Segments and Commercial Loan Portfolios to Further Diversify Balance Sheet
•Deepens Hope’s Presence in the Greater Los Angeles Metropolitan Area
LOS ANGELES – March 31, 2026 – Hope Bancorp, Inc. (NASDAQ: HOPE) today announced that Bank of Hope, its bank subsidiary, has entered into a definitive agreement under which Bank of Hope will acquire the Commercial Banking Unit (“CBU”) of SMBC MANUBANK, a wholly owned subsidiary of SMBC Americas Holdings, Inc. and Sumitomo Mitsui Banking Corporation (“SMBC”). In addition, Bank of Hope and SMBC intend to enter into a collaboration and partnership agreement to provide commercial and consumer banking services to SMBC’s Japanese midsize business and retail customers needing banking services in the United States.
This transaction aligns with Hope Bancorp’s core strategies to enhance its commercial banking capabilities, expand services and product offerings to the Asian subsidiary and middle market business in the United States, and continue to grow its core funding. The acquisition adds approximately $2.5 billion in loans and $2.7 billion in deposits, based on the CBU balances as of December 31, 2025. Through the CBU, SMBC MANUBANK operates eight branches in Southern California with a focus on the attractive greater Los Angeles metropolitan area. The addition of these branches increases Bank of Hope’s core footprint in Los Angeles, the second-largest metropolitan area in the United States.
The CBU’s business lines are complementary to Bank of Hope’s key business segments, positioning the company for efficient growth. The CBU is a full service commercial bank offering a broad range of banking services across the following business lines: 1) the Japanese Banking Division, which has deep relationships with Japanese businesses that operate in the United States, 2) Diversified Industries, serving middle market and larger mid-corporate clients, 3) Franchise Finance, serving top tier branded quick service restaurant franchisees, 4) Commercial Real Estate, 5) Small Business Administration (“SBA”) loans, and 6) Specialty Deposit group, including Trust and Estate banking. Combining SMBC MANUBANK’s Japanese Banking Division and Bank of Hope’s Korean Subsidiary Group creates a unique, top-tier platform designed to serve Asian multi-national businesses.
“We are very excited to announce this accretive transaction, which strengthens our product offering, deepens our talent and expertise, and enhances our ability to serve the diverse multicultural communities that define modern America, with a particular focus on Korean and Japanese clients. The addition of the Japanese Banking Division complements our Korean Subsidiary Banking Group and positions us to drive strategic growth in cross-border middle market banking across the continental United States and Hawaii,” said Hope Bancorp Chairman, President and CEO Kevin Kim.
“We are acquiring significant core deposits and an attractive lending business, which will meaningfully contribute to enhanced profitability and lead to earnings accretion, as we remain focused on delivering long-term value for our stockholders. We look forward to partnering with SMBC and serving the retail and commercial banking needs of Japanese clients operating in the U.S. We are pleased to welcome the CBU associates joining our Bank of Hope team,” added Kim.
2-2-2 NASDAQ:HOPE
SMBC Americas Division CEO Hirofumi Otsuka said: “We are pleased to have reached this agreement with Bank of Hope, a trusted and well-established financial institution with a strong reputation for client service and delivering high-quality banking solutions for the communities it serves. We are confident that Bank of Hope, backed by a strong and experienced team, is well positioned to drive continued growth and provide stability and continuity for customers. For SMBC in the Americas, this transaction reinforces our U.S. strategy and our commitment to wholesale and institutional banking, positioning us squarely behind businesses where we have scale, depth, and competitive differentiation, allowing us to fully leverage SMBC’s global platform to deliver high‑impact, specialized solutions across corporate and investment banking, global markets, and transaction banking."
Financial Highlights
Hope Bancorp expects the transaction to deliver significant financial benefits that will advance its goals of delivering sustainable growth and creating durable long-term value for shareholders. Key financial benefits of the transaction include:
•Significant Earnings Accretion: Transaction is expected to be over 20% accretive to Hope Bancorp’s earnings per share in 2027.
•Short Tangible Book Value Earn-back: Tangible book value dilution at closing is expected to be approximately 4.5% and earned back in approximately two years.
•Capital Deployment and Profitability Enhancement: All-cash transaction optimizes capital and improves anticipated tangible returns on equity to approximately 12% in 2027.
•Diversified Core Deposit Base: Transaction enhances Hope Bancorp’s deposit base while lowering its overall cost of deposits. Noninterest bearing demand deposits made up 22% of the CBU’s deposit base as of December 31, 2025, and time deposits made up only 3% of the CBU’s deposits. The addition of the Japanese Banking Division provides a significant source of core deposits and customer expansion and growth, and the addition of specialized deposit verticals, including Trust and Estate Banking, expands Hope’s deposit capabilities.
•Attractive Balance Sheet Growth: Transaction expected to add $2.5 billion in loans across commercial and commercial real estate and $2.7 billion in deposits with a strong mix of non-maturity deposits.
Shared Culture of Meeting the Unique Needs of Our Clients
A key strength of this combination is the shared commitment to relationship-based banking, responsive service, and long-term support for the customers and communities both organizations serve. The transaction brings together experienced bankers with deep expertise across commercial banking, operations and relationship management, positioning the combined company to better serve clients through deeper relationships, broader capabilities and immediate execution.
Transaction Details
Under the terms of the definitive agreement, net assets purchased will be settled in an all-cash transaction. The acquisition includes the CBU’s loan portfolio and deposits.
The transaction has been approved unanimously by the Boards of Directors of Hope Bancorp and Bank of Hope as well as SMBC Americas Holdings, Inc. and SMBC MANUBANK and is expected to close in the second half of 2026, subject to customary regulatory approvals and the satisfaction of other customary closing conditions.
For additional information about the transaction, an investor presentation highlighting its strategic and financial rationale will be available on Hope Bancorp’s investor relations website at https://www.ir-hopebancorp.com/.
Keefe Bruyette and Woods, Inc, a Stifel Company is acting as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as a legal advisor to Hope. RBC Capital Markets is acting as exclusive financial advisor and Davis Polk & Wardwell LLP as legal advisor to SMBC.
3-3-3 NASDAQ:HOPE
About Hope Bancorp, Inc.
Hope Bancorp, Inc. (NASDAQ: HOPE) is the holding company for Bank of Hope, with $18.53 billion in total assets as of December 31, 2025. Following the addition of Territorial Savings as a division of Bank of Hope, the Company became the largest regional bank serving multicultural customers across the continental United States and Hawaii. Headquartered in Los Angeles, Bank of Hope offers a comprehensive range of commercial, corporate and consumer banking products and services, including commercial and commercial real estate lending, SBA lending, residential mortgage and consumer lending, treasury management, foreign exchange solutions, interest rate derivatives, and international trade finance. Bank of Hope operates 45 full-service branches in California, New York, New Jersey, Washington, Texas, Illinois, Alabama and Georgia under the Bank of Hope banner, and 29 branches in Hawaii under the Territorial Savings banner. Bank of Hope also operates SBA loan production offices, commercial loan production offices, and residential mortgage loan production offices throughout the United States, and a representative office in Seoul, South Korea. Bank of Hope is a California-chartered bank, and its deposits are insured by the FDIC to the extent provided by law. Bank of Hope is an Equal Opportunity Lender. For additional information, please go to www.bankofhope.com for Bank of Hope and www.tsbhawaii.bank for Territorial Savings, a division of Bank of Hope. By including the foregoing website address links, the Company does not intend to and shall not be deemed to incorporate by reference any material contained or accessible therein.
Forward-Looking Statements
Some statements in this news release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” and similar expressions. With respect to any such forward-looking statements, Hope Bancorp claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Hope Bancorp’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. With the consummation of the acquisition of SMBC MANUBANK CBU , factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: the failure of the conditions to closing to be satisfied or waived, difficulties and delays in integrating Hope Bancorp and SMBC MANUBANK CBU and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; and deposit attrition, operating costs, customer loss and business disruption following the acquisition, including difficulties in maintaining relationships with employees and customers, may be greater than expected. Other risks and uncertainties include, but are not limited to: possible renewed deterioration in economic conditions in Hope Bancorp’s areas of operation or elsewhere; interest rate risk associated with volatile interest rates and related asset-liability matching risk; liquidity risks; risk of significant non-earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; the failure of or changes to assumptions and estimates underlying Hope Bancorp’s allowance for credit losses; potential increases in deposit insurance assessments and regulatory risks associated with current and future regulations; the outcome of any legal proceedings that may be instituted against Hope Bancorp; the impact of U.S. and global trade policies, including changes in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability and international tensions; and risks from natural disasters. For additional information concerning these and other risk factors, see Hope Bancorp’s most recent Annual Report on Form 10-K and other documents Hope Bancorp files with the SEC from time to time. Hope Bancorp does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.
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Non-GAAP Financial Measures
Unless otherwise indicated, all financial metrics presented reflect continuing operations only.
This communication includes information that does not conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are considered non-GAAP measures. Management uses these measures internally for planning, forecasting and evaluating the performance of the Company, including allocating resources. Hope’s management believes these non-GAAP financial measures are useful to investors because they provide additional information related to the ongoing performance of Hope to offer a more meaningful comparison related to future results of operations. These non-GAAP financial measures supplement disclosures prepared in accordance with U.S. GAAP, and should not be viewed as an alternative to U.S. GAAP. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other companies. Non-GAAP measures included in this communication are defined below. The Company has not provided forward-looking U.S. GAAP financial measures or a reconciliation of forward-looking non-GAAP financial measures to the most comparable U.S. GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty the ultimate outcome of certain future events. These events include, among others, the impact of portfolio changes, including asset sales, mergers, acquisitions, and divestitures; contingent liabilities related to litigation, indemnifications matters; impairments and discrete tax items. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP results for the guidance period.
Non-GAAP Measure Definitions
TCE Ratio
Tangible book value per common share is calculated by subtracting goodwill and core deposit intangible assets from total stockholders’ equity (“tangible book value”), then dividing the difference by the number of shares of common stock outstanding (“Tangible Book Value Per Share”). TCE ratio is calculated by taking tangible book value, then dividing the difference by total assets after subtracting goodwill and core deposit intangible assets (“Tangible Assets”).
Return on Average Tangible Common Equity
Return on average tangible common equity is calculated by dividing net income by average tangible common equity.
Contact Info: | ||||||||
Julianna Balicka | ||||||||
| Executive Vice President & Chief Financial Officer | ||||||||
InvestorRelations@bankofhope.com | ||||||||
| Nick Leasure / Hugh Burns / Luc Herbowy | ||||||||
| Reevemark | ||||||||
| 212-433-4600 | ||||||||
| HopeBancorpTeam@reevemark.com | ||||||||
# # #
Strategic, Accretive Acquisition of SMBC MANUBANK’s Commercial Banking Unit (“CBU”) Investor Presentation March 31, 2026
Some statements in this news release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” and similar expressions. With respect to any such forward-looking statements, Hope Bancorp claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Hope Bancorp’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. With the consummation of the acquisition of SMBC MANUBANK CBU , factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: the failure of the conditions to closing to be satisfied or waived, difficulties and delays in integrating Hope Bancorp and SMBC MANUBANK CBU and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; and deposit attrition, operating costs, customer loss and business disruption following the acquisition, including difficulties in maintaining relationships with employees and customers, may be greater than expected. Other risks and uncertainties include, but are not limited to: possible renewed deterioration in economic conditions in Hope Bancorp’s areas of operation or elsewhere; interest rate risk associated with volatile interest rates and related asset-liability matching risk; liquidity risks; risk of significant non-earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; the failure of or changes to assumptions and estimates underlying Hope Bancorp’s allowance for credit losses; potential increases in deposit insurance assessments and regulatory risks associated with current and future regulations; the outcome of any legal proceedings that may be instituted against Hope Bancorp; the impact of U.S. and global trade policies, including changes in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability and international tensions; and risks from natural disasters. For additional information concerning these and other risk factors, see Hope Bancorp’s most recent Annual Report on Form 10-K and other documents Hope Bancorp files with the SEC from time to time. Hope Bancorp does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law. Non-GAAP Financial Measures Unless otherwise indicated, all financial metrics presented reflect continuing operations only. This communication includes information that does not conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are considered non-GAAP measures. Management uses these measures internally for planning, forecasting and evaluating the performance of Hope Bancorp, including allocating resources. Hope Bancorp’s management believes these non- GAAP financial measures are useful to investors because they provide additional information related to the ongoing performance of Hope Bancorp to offer a more meaningful comparison related to future results of operations. These non-GAAP financial measures supplement disclosures prepared in accordance with U.S. GAAP and should not be viewed as an alternative to U.S. GAAP. Furthermore, such non- GAAP measures may not be consistent with similar measures provided or used by other companies. Reconciliations for these Non-GAAP measures to U.S. GAAP are provided on page 7. Non-GAAP measures included in this communication are defined below. Hope Bancorp has not provided forward-looking U.S. GAAP financial measures or a reconciliation of forward-looking non-GAAP financial measures to the most comparable U.S. GAAP financial measures on a forward-looking basis because Hope Bancorp is unable to predict with reasonable certainty the ultimate outcome of certain future events. These events include, among others, the impact of portfolio changes, including asset sales, mergers, acquisitions, and divestitures; contingent liabilities related to litigation, indemnifications matters; impairments and discrete tax items. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP results for the guidance period. Non-GAAP Measure Definitions TCE Ratio Tangible book value per common share is calculated by subtracting goodwill and core deposit intangible assets from total stockholders’ equity (“tangible book value”), then dividing the difference by the number of shares of common stock outstanding (“Tangible Book Value Per Share”). TCE ratio is calculated by taking tangible book value, then dividing the difference by total assets after subtracting goodwill and core deposit intangible assets (“Tangible Assets”). Return on Average Tangible Common Equity Return on average tangible common equity is calculated by dividing net income by average tangible common equity. Forward Looking Statements & Additional Disclosures 2
Enhancing Hope’s Commercial Banking Capabilities, Market Footprint and Balance Sheet • Expands Scale and Reach: Transaction aligns with Hope’s core strategy to enhance its commercial banking capabilities and broaden Hope’s reach and ability to serve multicultural communities across the mainland U.S. and Hawaii • Deepens Core Market Footprint: SMBC MANUBANK’s eight branches broaden Hope’s core footprint in the attractive greater Los Angeles metropolitan area (“MSA”), the 2nd-largest metropolitan area in the U.S. • Balance Sheet Impact: Attractive core deposit funding, specialty deposit segments (including Trust & Estate banking) and commercial loan portfolios (including diversified general middle market, franchise finance, commercial real estate, SBA) further diversify Hope’s balance sheet • SMBC Partnership: Entering into a collaboration and partnership agreement with Sumitomo Mitsui Banking Corporation. Combining SMBC MANUBANK’s Japanese Banking Division and Hope’s Korean Subsidiary Banking Group creates a unique, top-tier platform designed to serve Asian multi-national businesses Commercial Banking Unit Nasdaq: HOPE 3 Established in 1962, SMBC MANUBANK is a wholly owned subsidiary of SMBC Americas Holdings, which itself is a wholly owned subsidiary of Sumitomo Mitsui Banking Corporation (SMBC)
Ventura Riverside Orange Los Angeles San Bernadino Pro Forma Map Bank of Hope SMBC MANUBANK All Other Commercial 7% Commercial Real Estate Group 51% Diversified Industries 11% Franchise Finance 21% SBA Group 10% $2.5B Total Loans Yield on Loans: 5.76%(1) All Other Commercial 9% Diversified Industries 11% Japanese Banking Division 38% Trust & Estate 20% Other Specialty Deposits 22% $2.7B Total Deposits Cost of Deposits 2.20%(1) SMBC MANUBANK’s CBU is Complementary to Hope Loan & Deposit Portfolios at 12/31/25 ▪ Headquartered in Los Angeles, the 2nd largest MSA in the U.S. ▪ SMBC MANUBANK was established in 1962 as Manufacturers Bank ▪ 8 branch locations in Southern California ▪ Commercial lending teams augment Hope’s banking teams and platform ▪ Japanese Banking Division: serves Japanese-owned, small to midsize businesses that operate in the U.S. Primarily a deposit-focused division ▪ Specialty Deposits group: trust & estate business, non-profit organizations, and high net worth clients (1) Spot rates at 12/31/25; excludes prospective purchase accounting adjustments. 4 Pro Forma Branch Network in Southern California
Delivering Significant Financial Benefits (1) Based on Consensus 2027 EPS estimate for HOPE as of March 27, 2026. (2) Return on Tangible Common Equity (“ROTCE”); Tangible Book Value (“TBV”) per share; Tangible Common Equity (“TCE”); Common Equity Tier-1 (“CET-1”). ROTCE, TBV, and TCE are non-GAAP financial metrics. See Appendix slide in this presentation for a reconciliation of GAAP to non-GAAP financial metrics. (3) Pro Forma as of 12/31/25 including estimated transaction marks and SMBC MANUBANK loan and deposit balances as of 12/31/25. Pro Forma measures reflected herein have not been prepared in accordance with Article 11 of Regulation S-X. Pro Forma Combined Company Capital Ratios(3) 8.1% TCE(2) Ratio 9.4% Leverage Ratio 10.2% CET-1(2) Ratio 11.7% Total Capital Ratio Transaction Metrics ~23% Internal Rate of Return 20%+ 2027 Est. EPS Accretion(1) ~4.5% Pro Forma TBV(2) Dilution(3) ~2 yr Est. TBV Earn-back Transaction Structure Pro Forma Balance Sheet Impact (12/31/2025 balances) Estimated Purchase Accounting Adjustments ▪ Purchasing assets and assuming liabilities on a net book value basis ▪ Net assets purchased will be settled in 100% cash ▪ All cash transaction optimizes capital and improves return on tangible common equity ▪ ~$2.5bn in loans (+17% of Hope’s standalone loans) ▪ ~$2.7bn in deposits (+17% of Hope’s standalone deposits) ▪ ~2% gross loan credit mark ▪ ~2% loan interest rate mark ▪ ~2.5% core deposit intangible Estimated Closing ▪ Second half of 2026 Transaction Summary ~12% 2027 Est. ROTCE(2) Estimated Merger-Related Costs ▪ After-tax expense of ~$30mm, incurred incrementally throughout year 1 post close 5
Strengthens and Diversifies Loans and Deposits (1) Excludes prospective purchase accounting adjustments related the impact of SMBC MANUBANK on the combined balance sheet. Note: DDA is defined as Demand Deposit Account. Yield on Loans and Cost of Deposits are spot rates at 12/31/2025. Commercial Real Estate 57% C&I 26% Residential Mortgage & Other 17% $2.5B Loans (at 12/31/25) $14.8B Total Loans Yield on Loans: .68% MMDA, Interest Bearing DDA and Savings 37% Noninterest Bearing DDA 22% Time Deposits 41% $15.6B Total Deposits Cost of Deposits 2.68% Commercial Real Estate 60% C&I 40% $2.5B Loans (at 12/31/25) $2.5 Total Loans Yield on Loans: 5.76%(1) MMDA, Interest Bearing DDA and Savings 75% Noninterest Bearing DDA 22% Time Deposits 3% $2.7B Total Deposits Cost of Deposits 2.20%(1) Commercial Real Estate 58% C&I 28% Residential Mortgage & Other 14% $17.3B Total Loans Yield on Loans: 5.69%(1) MMDA, Interest Bearing DDA and Savings 43% Noninterest Bearing DDA 22% Time Deposits 35% $18.3B Total Deposits Cost of Deposits: 2.61%(1) Hope Bancorp (12/31/25) SMBC MANUBANK CBU (12/31/25) Pro Forma (12/31/25) 6
Appendix: TBV Dilution and GAAP to non-GAAP Financial Reconciliations 7 TBV dilution and other non-GAAP financial measures have been provided as we believe they provide investors with meaningful supplemental information that is useful in understanding the financial metrics of this transaction. Reconciliations of the financial metrics are provided below. ($ in millions) 12/31/25 HOPE Total Stockholders Equity $ 2,283 Estimated Equity Impact from SMBC MANUBANK CBU (16) HOPE Goodwill and CDI (526) Estimated CDI (63) Estimated Pro Forma Tangible Common Equity (“TCE”) $ 1,678 HOPE Total Assets $ 18,532 Estimated SMBC MANUBANK Assets 2,723 Pro Forma Goodwill and Estimated CDI (589) Estimated Pro Forma Tangible Assets $ 20,666 HOPE TCE Ratio (actual 12/31/25) 9.8% Estimated Pro Forma TCE Ratio 8.1% Non-GAAP Reconciliation - TCE RatioTangible Book Value Dilution Reconciliation ($ in millions, except share and per share info) 12/31/25 Common Shares $ Per Share HOPE Tangible Book Value $ 1,757 128,201,655 $ 13.71 Estimated Equity Impact from SMBC MANUBANK CBU (16) — — Estimated Core Deposit Intangible (“CDI”) (63) — — Combined Pro Forma Tangible Book Value $ 1,678 128,201,655 $ 13.09 Estimated Tangible Book Value Per Share Dilution ($) $ (0.62) Estimated Tangible Book Value Per Share Dilution (%) (4.5%)
FAQ
What acquisition did Hope Bancorp (HOPE) announce on March 31, 2026?
Hope Bancorp announced that Bank of Hope agreed to acquire SMBC MANUBANK’s Commercial Banking Unit in an all-cash transaction. The deal includes the unit’s loan portfolio, deposits and eight Southern California branches, expanding Hope’s commercial banking capabilities and presence in the greater Los Angeles metropolitan area.
How much in loans and deposits will Hope Bancorp gain from the SMBC MANUBANK CBU deal?
Based on December 31, 2025 balances, Hope Bancorp expects to add approximately $2.5 billion in loans and $2.7 billion in deposits. These balances span commercial and commercial real estate loans and a strong mix of non-maturity and noninterest-bearing deposits, diversifying Hope’s balance sheet and funding base.
How will the SMBC MANUBANK CBU acquisition affect Hope Bancorp’s earnings and book value?
Hope Bancorp expects the transaction to be over 20% accretive to earnings per share in 2027. Tangible book value dilution at closing is estimated at about 4.5%, with management projecting an earn-back period of roughly two years based on pro forma capital and purchase accounting assumptions.
What capital and return metrics does Hope Bancorp project after the SMBC MANUBANK CBU acquisition?
On a pro forma basis as of December 31, 2025, Hope Bancorp estimates a tangible common equity ratio of about 8.1%, a CET1 ratio near 10.2%, and total capital ratio of roughly 11.7%. Return on tangible common equity is projected to reach approximately 12% in 2027 following integration.
When is the Hope Bancorp–SMBC MANUBANK CBU transaction expected to close?
The acquisition has been unanimously approved by the boards of Hope Bancorp, Bank of Hope, SMBC Americas Holdings and SMBC MANUBANK. Closing is expected in the second half of 2026, subject to customary regulatory approvals and satisfaction of other standard closing conditions described in the agreement.
How does the SMBC partnership enhance Hope Bancorp’s strategy with this acquisition?
Alongside the acquisition, Bank of Hope and Sumitomo Mitsui Banking Corporation intend to enter a collaboration and partnership agreement. Combining SMBC MANUBANK’s Japanese Banking Division with Hope’s Korean Subsidiary Banking Group is designed to create a platform serving Asian multi-national middle market businesses and retail customers in the United States.